As of November 6, 2014, the fund has liquidated its position in American Realty Capital Properties, Inc. (ARCP)

Investors should consider the investment objectives, risks, charges and expenses of the funds carefully before investing. This and other information are contained in the fund’s prospectus and summary prospectus, if available, which may be obtained by contacting your investment professional or PIMCO representative. Click here for a complete list of the PIMCO Funds prospectuses and summary prospectuses. Please read them carefully before you invest or send money.

The portfolio holdings presented only includes the long positions held within the portfolio. A complete list of the Fund’s most recent publically available positions, including short positions, can be obtained from the Fund’s Form N-Q Quarterly Schedule of Portfolio Holdings as filed with the Securities and Exchange Commission (“SEC”).

This material has been distributed for informational purposes only and should not be considered as investment advice or a recommendation of any particular security, strategy or investment product. No part of this material may be reproduced in any form, or referred to in any other publication, without express written permission.